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Eastern's only asset is a 10% interest in the Portland smelter but that hasn't stopped a high earnings payout policy by way of dividends. This means a higher yield as shown in the table. Due to recent agreements and the expected privatisation of the Victorian Government's 25% interest in the smelter, Eastern will increase its share of the smelter to 13.3% or higher. Other opportunities are also being examined. We recommend that investors BUY the stock at around $1.30.

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